Tocqueville Asset Management L.P. Sells 501 Shares of Quanta Services, Inc. (NYSE:PWR)

Tocqueville Asset Management L.P. trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,102 shares of the construction company’s stock after selling 501 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Quanta Services were worth $6,985,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PWR. Raymond James Financial Inc. bought a new stake in shares of Quanta Services during the fourth quarter worth approximately $203,068,000. Alkeon Capital Management LLC increased its stake in Quanta Services by 62.5% in the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after purchasing an additional 250,000 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Quanta Services in the fourth quarter valued at approximately $53,949,000. Union Bancaire Privee UBP SA bought a new stake in Quanta Services in the fourth quarter valued at approximately $46,364,000. Finally, Public Sector Pension Investment Board increased its stake in Quanta Services by 81.7% in the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock valued at $83,210,000 after purchasing an additional 125,530 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PWR shares. Guggenheim started coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Stifel Nicolaus lowered their target price on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Roth Mkm started coverage on shares of Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price objective for the company. Finally, Bank of America started coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective for the company. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Price Performance

Shares of PWR opened at $263.35 on Wednesday. The firm has a market capitalization of $39.03 billion, a PE ratio of 43.67, a PEG ratio of 1.41 and a beta of 1.10. The company’s 50-day moving average is $291.85 and its 200-day moving average is $304.45. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.